Major U.S. airlines asked the U.S. Treasury to move quickly to release up to US$58 billion in government grants and loans and recommended a formula to divide up the money.
In a letter dated Saturday and seen by Reuters, carriers wrote that"given the urgent and immediate need, it is essential that these funds be disbursed as soon as possible."The letter was signed by the chief executives of American Airlines , Delta Air Lines , United Airlines, Alaska Air Group , JetBlue Airways Corp , Southwest Airlines Co , Hawaiian Airlines and Atlas Air Worldwide .
Airlines had threatened to quickly start laying off tens of thousands of workers within days if they did not get a bailout. Treasury faces an April 1 deadline to issue procedures to airlines to apply for grants. According to 2019 stock market filings for the top publicly-traded U.S. carriers, American Airlines paid the most in salaries and benefits at about US$6.4 billion over a six-month period.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vietnam asks its major cities to prepare for lockdown to stop coronavirusHANOI (REUTERS) - Vietnam's prime minister has asked major cities to prepare for possible lockdowns to stop the spread of the coronavirus as the number of confirmed cases in the South-east Asian country almost reached 200, a government statement said on Monday (March 30).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Syria reports first coronavirus death as fear grow of major outbreakSyria's health ministry said on Sunday that a woman who died after being rushed to hospital for emergency treatment was found to have been ... Come on ..their sufferings are beyond this disease. It relieves them of bombs and bullets injuries.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US could take equity shares in coronavirus-hit airlines: OfficialsWASHINGTON: The US government could take equity shares in airlines and other troubled but vital American corporations as it moves to stabilise an ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US could take equity shares in coronavirus-hit airlines: officials[WASHINGTON] The US government could take equity shares in airlines and other troubled but vital American corporations as it moves to stabilise an economy amid the new coronavirus pandemic, top US officials said on Sunday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Coronavirus: SIA must move fast when recovery comesBy the end of May, most airlines will be bankrupt but Singapore Airlines will not be on that list.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Trump's attack on GM over ventilators quickly turns to praisePresident Donald Trump, who excoriated General Motors Co on Friday and invoked emergency powers to compel the production of badly needed ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »